Guide price
£950,000
(£145/sq. ft)
20 bed block of flats for saleThe Old School House, Bargate, Lincoln LN5
20 beds
11 baths
16 receptions
6,566 sq. ft
Chain free
Freehold
About this property
Freehold sale
Total of 8 apartments
Consisting of 20 bedrooms
Four x 3 bedrooms
Four x 2 bedrooms
10 parking spaces
Wheelchair accessible
Perfectly positioned on the edge of Lincoln city centre, The Old School presents an exclusive opportunity for discerning investors seeking a lucrative venture in a vibrant cityscape.
Formerly an Old School House, this historic gem has been meticulously transformed into a prestigious freehold block of eight spacious apartments, offering the epitome of refined urban living.
This converted masterpiece, boasts a total of 20 expansive bedrooms spread across 8 apartments (four two-bedroom and four three-bedroom apartments).
Each apartment offers an elegant charm and a harmonious blend of modern convenience and historical character. Steeped in history, with an enchanting charm that captivates the senses, the former Old School House stands as a testament to enduring elegance and timeless allure.
The building encompasses over 6,500 square feet of living space, allowing residents to savour the freedom of spacious interiors and sprawling layouts. With five apartments offering private access and dedicated parking spaces for every unit, convenience is seamlessly woven into the fabric of every-day life.
Currently, all apartments are rented on Assured Shorthold Tenancies (AST), ensuring a steady stream of income for the astute investor. The property not only provides a stable return on investment but also presents an enticing opportunity for further growth with untapped potential for increased yield. Current rent achieved £69,000 pa. Potential rental income of £85,000 pa
Envision the endless possibilities that this property offers, whether you are an experienced investor looking to expand your portfolio or a newcomer seeking a secure investment.
Rental Information relating to this investment can be obtained by contacting our Director of Sales; Stuart Richards.
Apartment 1: 814sq ft - 3 bedrooms (duplex with own entrance & court-yard)
Apartment 2: 833sq ft - 3 bedrooms (duplex with both shared entrance & private entrance)
Apartment 3: 642sq ft - 2 bedrooms (ground floor apartment off communal entrance)
Apartment 4: 808sq ft - 2 bedrooms (first floor apartment off communal entrance)
Apartment 5: 764sq ft - 2 bedrooms (ground floor apartment with 2 en-suites)
Apartment 6: 616sq ft - 2 bedrooms (ground floor apartment with private entrance)
Apartment 7: 1230sq ft - 3 bedrooms (private entrance, stairs rising to first floor magnificent apartment)
Apartment 8: 859sq ft - 3 bedrooms (duplex apartment with private entrance)
Anti Money Laundering Regulations
Under UK Law, Benningtons are required to carry out aml checks in line with regulations and guidance set out by hmrc. These checks include identifying the source of funds used to purchase a property and conducting identity checks on their customers. As an applicant, you will be charged a non-refundable fee of £35 (inclusive of VAT) per buyer for these checks. The fee covers data collection, manual checking, and monitoring. You will need to pay this amount directly to Movebutler and complete all Anti-Money Laundering (aml) checks before your offer can be formally accepted.
Formerly an Old School House, this historic gem has been meticulously transformed into a prestigious freehold block of eight spacious apartments, offering the epitome of refined urban living.
This converted masterpiece, boasts a total of 20 expansive bedrooms spread across 8 apartments (four two-bedroom and four three-bedroom apartments).
Each apartment offers an elegant charm and a harmonious blend of modern convenience and historical character. Steeped in history, with an enchanting charm that captivates the senses, the former Old School House stands as a testament to enduring elegance and timeless allure.
The building encompasses over 6,500 square feet of living space, allowing residents to savour the freedom of spacious interiors and sprawling layouts. With five apartments offering private access and dedicated parking spaces for every unit, convenience is seamlessly woven into the fabric of every-day life.
Currently, all apartments are rented on Assured Shorthold Tenancies (AST), ensuring a steady stream of income for the astute investor. The property not only provides a stable return on investment but also presents an enticing opportunity for further growth with untapped potential for increased yield. Current rent achieved £69,000 pa. Potential rental income of £85,000 pa
Envision the endless possibilities that this property offers, whether you are an experienced investor looking to expand your portfolio or a newcomer seeking a secure investment.
Rental Information relating to this investment can be obtained by contacting our Director of Sales; Stuart Richards.
Apartment 1: 814sq ft - 3 bedrooms (duplex with own entrance & court-yard)
Apartment 2: 833sq ft - 3 bedrooms (duplex with both shared entrance & private entrance)
Apartment 3: 642sq ft - 2 bedrooms (ground floor apartment off communal entrance)
Apartment 4: 808sq ft - 2 bedrooms (first floor apartment off communal entrance)
Apartment 5: 764sq ft - 2 bedrooms (ground floor apartment with 2 en-suites)
Apartment 6: 616sq ft - 2 bedrooms (ground floor apartment with private entrance)
Apartment 7: 1230sq ft - 3 bedrooms (private entrance, stairs rising to first floor magnificent apartment)
Apartment 8: 859sq ft - 3 bedrooms (duplex apartment with private entrance)
Anti Money Laundering Regulations
Under UK Law, Benningtons are required to carry out aml checks in line with regulations and guidance set out by hmrc. These checks include identifying the source of funds used to purchase a property and conducting identity checks on their customers. As an applicant, you will be charged a non-refundable fee of £35 (inclusive of VAT) per buyer for these checks. The fee covers data collection, manual checking, and monitoring. You will need to pay this amount directly to Movebutler and complete all Anti-Money Laundering (aml) checks before your offer can be formally accepted.
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